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Mandeep.Singh
Jul 31, 2017 9:00 PM

AUD/USD - Bullish Long

Australian Dollar/U.S. DollarFXCM

Description

Monthly
Extremely strong bullish month with price smashing through 2 key levels. MA also upward facing. Last month we saw a bullish engulfing taking out 3 months of prior bearish price action.

Weekly
Clear bullish price action with MA crossover to the upside. New highs expected to form at 0.8100.

Daily
Clear higher highs and higher lows signalling a strong uptrend with MAs upward facing.

H4
Price was consolidating around the weekly area within a rectangle. Price broke out of this rectange, retested it as support and rejected the 62.8% level. We have no broken out CTL with MAs upward facing.
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